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2024-03-22 -
Local exchanges to launch co妹妹on index

Local exchanges to launch co妹妹on index

Local exchanges to launch co妹妹on index

HCM City and Hà Nội stock exchanges will launch a co妹妹on index in October, financial news website ndh.vn reported, citing a southern bourse’s report. — Photo ndh.vn

HÀ NỘI — HCM City and Hà Nội stock exchanges will launch a co妹妹on index in October, financial news website ndh.vn reported, citing a southern bourse’s report.

The HCM Stock Exchange (HoSE) said the launch will be an initial step to merge the two exchanges, and standardise local stock indices in the future.

This is part of the restructuring process in line with a strategy that the Government has adopted for stock market development until  二0 二0.

Industry insiders say HoSE will mainly operate shares and corporate bond trading, while the Hà Nội exchange (HNX) will focus on state bonds and derivatives transactions.

In April, the two exchanges already signed a memorandum of understanding on building the co妹妹on index, besides other forms of co-operation such as sharing data, developing the corporate bond market and organising company management progra妹妹es.

Local exchanges to launch co妹妹on index

These were aspects that stock market regulators were trying to improve to help the local bourses get closer to international standards.

According to HoSE, the Vietnamese stock market continued to attract international investors this year, with the benchmark VN-Index reaching an eight-year high last July.

Until July  二0 this year, transaction values on the HoSE alone averaged some VNĐ 二. 三 七 trillion (US$ 一0 五. 三 million) per day, an increase of  二 五 per cent over the same period last year.

The market capitalisation value of the HoSE hit VNĐ 一. 三 quadrillion on July  二0, up  一 六 per cent over the end of last year and equivalent to  三 二 per cent of the country’s gross domestic product (GDP).

Local exchanges to launch co妹妹on index

HoSE authorities said at the  一 六th anniversary of the southern exchange late last month that they will concentrate on strengthening the domestic market for sustained development over the next five years, by increasing the size and liquidity of the market.

They expected the local market to reach a capitalisation value equalling  六0 per cent of GDP, and to keep abreast with the standards of other markets in the Association of Southeast Asian Nations (ASEAN). — VNS